PPG Industries, Inc. $PPG Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its position in PPG Industries, Inc. (NYSE:PPG) by 84.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,926 shares of the specialty chemicals company’s stock after selling 15,411 shares during the period. Candriam S.C.A.’s holdings in PPG Industries were worth $306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $2,856,392,000. Pzena Investment Management LLC bought a new stake in shares of PPG Industries in the 2nd quarter valued at $946,964,000. Bank of New York Mellon Corp bought a new stake in shares of PPG Industries in the 2nd quarter valued at $318,870,000. Bank of America Corp DE bought a new stake in shares of PPG Industries in the 2nd quarter valued at $278,965,000. Finally, First Trust Advisors LP lifted its position in shares of PPG Industries by 321.4% during the 1st quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock valued at $244,462,000 after acquiring an additional 1,744,528 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other news, VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares of the company’s stock, valued at $1,241,013.54. This trade represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $124.80 on Thursday. The business’s fifty day simple moving average is $110.56 and its 200 day simple moving average is $113.02. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The firm has a market capitalization of $27.57 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business posted $2.13 EPS. PPG Industries’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that PPG Industries, Inc. will post 7.98 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. PPG Industries’s dividend payout ratio is presently 42.29%.

Analysts Set New Price Targets

PPG has been the subject of a number of research reports. UBS Group raised their price target on shares of PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Citigroup upped their price objective on shares of PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Royal Bank Of Canada upped their price objective on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a report on Thursday, October 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $137.00 price objective on shares of PPG Industries in a research report on Thursday, October 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $128.00 price target on shares of PPG Industries in a research note on Friday, October 9th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.29.

PPG Industries Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.